Pound to Naira exchange rate today, January 5, 2026
SKAiF NewsNG SNN
The Nigerian foreign exchange market opened the first week of 2026 with the British Pound Sterling (GBP) maintaining a significant spread between official and informal trading channels. As of the morning of Monday, January 5, the Naira continues to face volatility across the various market segments.
Official Market (NFEM) Performance
At the Nigerian Foreign Exchange Market (NFEM), the Pound Sterling started the day trading at an average rate of 1,936.43 NGN. This official window, which reflects the central bank’s regulated activity and major institutional trades, has seen the Naira hover around this range as the market adjusts to early-year liquidity demands.
Real-time data from the official window shows the rate fluctuated between a low of 1,927.43 NGN and a peak of 1,937.56 NGN during the early trading hours. This minor intraday volatility suggests a steady but high demand for the British currency for official trade and services.
Parallel (Black) Market Update
In the parallel market, commonly referred to as the black market, the British Pound is trading at a premium compared to the official window. Unofficial traders in major hubs like Lagos (Broad Street) and Abuja (Wuse Zone 4) are currently buying the Pound at 2,150 NGN and selling between 2,210 NGN and 2,235 NGN.
The gap between the official NFEM rate and the parallel market rate remains wide, reflecting ongoing challenges with retail access to foreign currency at the official window.
Key Factors Influencing Rates
Market analysts point to several factors driving the current exchange figures:
Holiday Hangover: The resumption of full business activities following the New Year break often triggers a surge in corporate demand for foreign exchange to settle international invoices.
Oil Revenue Projections: Speculation regarding Nigeria’s oil production targets for the first quarter of 2026 continues to influence investor sentiment toward the Naira.
Inflationary Pressure: Ongoing domestic inflation continues to put pressure on the Naira’s purchasing power against stronger global currencies like the Pound.
As the trading day progresses, market participants are closely watching for any intervention from the Central Bank of Nigeria (CBN) to provide additional liquidity and narrow the spread between the official and parallel rates.
The post Pound to Naira exchange rate today, January 5, 2026 appeared first on Vanguard News.
